Wheat flour, a staple aliment for the poor in Pakistan, has seen an extraordinary 132% increase in price.
Wheat flour price
This is a concerning development in a country known for its agricultural prowess. Despite being self-sufficient in wheat production.
Pakistan has been adversely affected by the Russian-Ukrainian conflict, which has resulted in worldwide wheat price volatility.
The price of a 20-kg bag of wheat flour has reached Rs 2,830, according to data issued by the Pakistan Bureau of Statistics (PBS), for the week ending August 17, 2023.
Pricing of Rs 1,221
This huge increase contrasts sharply with the previous year’s pricing of Rs 1,221 for the same quantity during the same period.
The Sensitive Price Indicator (SPI) shows that inflation has increased by 27.57% year on year. Wheat flour, in particular, has seen a startling 131.29% increase.
This worrying trend is shown in the rising prices of Gas Charges (108.38%), Cigarettes (106.89%), and Tea Lipton (95.19%), among others.
Despite price decreases in products such as Onions (28.85%), Electricity for Q1 (21.96%), Pulse Masoor (14.85%), and 1 kg Vegetable Ghee (1.20%), the overall trend highlights the rising costs of vital goods.
SPI increased by 0.78%
The SPI increased by 0.78% in the most recent week, which ended on August 17, 2023, when compared to the prior week.
This rise is most visible in food goods such as Chillies Powder (7.58%), Rice Irri-6/9 (7.48%), Garlic (5.06%), and non-food items such as Diesel (7.29%) and Petrol (6.40%).
However, in the midst of this volatile circumstance, certain commodities have seen price decreases. Tomatoes (13.60%), Cooking Oil 5 litre (1.65%), and Vegetable Ghee 2.5 kg (0.85%) stand out.
A closer look at the weekly study reveals a larger trend: prices for 32 (62.75%) of the 51 goods have risen, 7 (13.72%) have declined, and 12 (23.53%) have remained unchanged.
As the cost of necessary products continues to climb, concerns about the impact on average residents’ lives and the overall economy grow.
The fluctuating market conditions, both domestically and internationally, necessitate close monitoring and aggressive steps to mitigate the effects on Pakistan’s people.
To read our blog on “In Punjab, price of a bag of urea has risen above Rs. 4,000,” click here